Vestcor Inc Sells 7,762 Shares of GoDaddy Inc. $GDDY

Vestcor Inc reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 11.0% in the third quarter, HoldingsChannel.com reports. The firm owned 62,715 shares of the technology company’s stock after selling 7,762 shares during the period. Vestcor Inc’s holdings in GoDaddy were worth $8,581,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hemington Wealth Management raised its stake in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares during the period. Root Financial Partners LLC purchased a new position in GoDaddy during the third quarter worth about $31,000. Rossby Financial LCC grew its holdings in shares of GoDaddy by 125.4% during the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after purchasing an additional 158 shares in the last quarter. Bayforest Capital Ltd raised its position in shares of GoDaddy by 141.5% during the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock valued at $49,000 after buying an additional 208 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in GoDaddy during the third quarter worth about $61,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other news, Director Leah Sweet sold 650 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director owned 11,414 shares in the company, valued at $991,420.04. This trade represents a 5.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 766 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $87.83, for a total value of $67,277.78. Following the completion of the transaction, the chief accounting officer owned 21,659 shares in the company, valued at approximately $1,902,309.97. This trade represents a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 63,005 shares of company stock worth $5,690,243. 0.70% of the stock is owned by insiders.

GoDaddy Price Performance

GoDaddy stock opened at $91.78 on Tuesday. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $193.55. The firm has a 50-day moving average price of $100.54 and a 200-day moving average price of $122.37. The firm has a market capitalization of $12.24 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.86 and a beta of 0.96. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. GoDaddy’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GDDY shares. Jefferies Financial Group reduced their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. Royal Bank Of Canada lowered their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Wells Fargo & Company dropped their target price on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.93.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.